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Jillian
Frequent user September 2022 Ontario

Budgets-are you including tax

Jillian, on October 9, 2018 at 10:36 Posted in Plan a wedding 0 12
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When making up your budget, are you documenting also the taxes for each vendor as well?

Or are you making a separate section for taxes each vendor?

Trying to figure out which is the best way to keep of payments pending vs paid.

12 Comments

Latest activity by Rekramer, on October 10, 2018 at 16:55
  • Rekramer
    Expert November 2018 Ontario
    Rekramer ·
    • Dispute

    I included the tax in my expected costs, you pay it all at the same time, there's no reason to keep it separate, in my mind.

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  • Vinod
    Featured August 2017 Ontario
    Vinod ·
    • Dispute
    My budget for the most part was taxed and 4 vendors were flat charge. That saved a lot from the extra amount to pay.
    • Reply
  • Lucy
    Frequent user July 2019 Ontario
    Lucy ·
    • Dispute
    I didn’t separate the taxes since they are part of the total cost. It’s not like I can cut back on them if it takes me over budget!

    To keep track of payments, I created a colour coded excel spreadsheet. Once a vendor is booked, I add them to the list and have separate lines for each payment with the date it has to be paid. For example, our photographer has a deposit line and then a second line for the remainder a week before. I keep it sorted by due date to I can see what and when my next payment needs to be made.

    Once I’ve made the payment, I highlight it in green and note how it was paid eg credit card, cheque etc.
    • Reply
  • Monica
    Devoted June 2019 Ontario
    Monica ·
    • Dispute
    I include taxes in my total budget for each vendor. I feel that’s a more accurate way (in my own mind) of truly “staying on budget,” or as close to the budget as possible.
    • Reply
  • Stephanie
    VIP May 2019 Ontario
    Stephanie ·
    • Dispute
    I include taxes on my budget sheet once I have them! But when speaking with vendors first I budget without taxes!
    • Reply
  • Jillian
    Frequent user September 2022 Ontario
    Jillian ·
    • Dispute
    View quoted message

    Thanks! our venue/food/drinks also include the gratuity and tax in the quotes. So I will put it all as 1 total

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  • Jillian
    Frequent user September 2022 Ontario
    Jillian ·
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    View quoted message

    Great thanks! And yes I know Ontario tax blows

    • Reply
  • Jennifer
    Super July 2019 Ontario
    Jennifer ·
    • Dispute

    My budget includes taxes and tips (and I put that in the note). as a couple of my vendors are doing cash, so no tax.

    you don't want any surprises after the fact. especially in Ontario where tax is 13%.


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  • Jillian
    Frequent user September 2022 Ontario
    Jillian ·
    • Dispute
    View quoted message

    Great thanks! Yes my Venue/food/drinks quotes have had gratuity and tax so i will factor that into my totals on Wedding Wire.

    • Reply
  • Brittany
    British Columbia
    Brittany ·
    • Dispute

    Not only tax, but tips/gratuity as well. If I budget without those two things, I'd have a $4,000+ bill at the end of the wedding that I hadn't accounted for.

    My venue provides the dinner, so it's +tax, +15% gratuity... It turns a $5,000ish dinner for 100 people into about $6,400...

    My first question for all of my vendors (photographer, DJ, commissioner, etc) is "Does this include tax?" Usually the answer is "yes", but you must double check, and definitely include it in the budget.

    • Reply
  • Bianca
    Master August 2019 Ontario
    Bianca ·
    • Dispute
    The tax is included in my budget. When I go to a new vendor, the cost of everything (with tax) is what I’m concerned with. I think it would scare me to have an entire separate section to see all the taxes on my wedding lol.
    • Reply
  • Tori
    Top October 2019 Manitoba
    Tori ·
    • Dispute

    With my venue we are set up on a payment plan; initial deposit, 1 year mark, 6 month mark, 1 month mark. It has the taxes included I believe.. either way I only pay what it states in the contract (except for the tip which I will give the day of).

    As for my Food vendor; we are given one price to pay on the day of with the taxes included.

    All in all I won't be looking into the taxes other than to make sure it all adds up.

    I find that the budget tool here on wedding wire really helps with the keeping track by the way Smiley smile

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